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Company News

BRIEF-JinkoSolar Posts Q1 earnings of RMB 2.33/share

May 27 (Reuters) - JinkoSolar Holding Co Ltd

* JinkoSolar announces first quarter 2016 financial results

* Q1 revenue rose 98.8 percent to RMB 5.47 billion

* Q1 non-GAAP earnings per share RMB 2.80

* Q1 earnings per share RMB 2.33

* Qtrly total solar module shipments were 1,600 megawatts (“MW”)

* Qtrly total solar module shipments decreased by 6.4% from 1,710 MW in q4 of 2015

* Qtrly diluted earnings per American Depositary Share were RMB 9.32 (US$1.44)

* Qtrly total revenues were US$847.8 million representing a 10.0% decrease from Q4

* Qtrly non-GAAP basic and diluted earnings per ads were RMB13.20 (US$2.04) and RMB11.20 (US$1.72)

* “global solar demand continues to grow as costs go down”

* Remain on track to hit project development guidance for year

* For Q2 of 2016, company estimates total solar module shipments to be in range of 1.6 GW to 1.7 GW

* For full year 2016, company estimates total solar module shipments to be in range of 6 GW and 6.5 GW

* Full year newly-added solar power project development scale is expected to be in range of 600 MW to 800 MW

* “China remains our biggest market with a number of big orders continuing to come in, a trend we believe will continue in Q2” Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1-646-223-8780)

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